Civic Intelligence

Frank Adoption Center

990 • Fiscal year 2022 • EIN 58-2153959

Jul 01, 2021 to Jun 30, 2022 • Filed on Dec 21, 2022

Organization Profilefrankadopt.org
2000 South Main StWake Forest, NC 27587

(919) 263-9749

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

89th percentile

0.75x

Higher debt load relative to assets than 89% of similar nonprofits.

2022 filings • NTEE P • <$500k nonprofits • Source year 2022

Liabilities / Revenue

80th percentile

0.11x

Higher debt load relative to revenue than 80% of similar nonprofits.

2022 filings • NTEE P • <$500k nonprofits • Source year 2022

Net Margin

15th percentile

-29%

Higher net margin than 15% of similar nonprofits.

2022 filings • NTEE P • <$500k nonprofits • Source year 2022

Top Officer Pay

93rd percentile

$48,000

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 25.7% of source-year revenue.

2022 filings • NTEE P • <$500k nonprofits • Source year 2022

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Balance Sheet
Liabilities / Assets89th percentile

Assets

Down

$26,819

Down $159,767 (-86%) from 2018

Net Assets

$6,759

No earlier filing loaded for comparison.

Liabilities

Up

$20,060

Up $16,704 (+498%) from 2018

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin15th percentile

Revenue

Down

$186,914

Down $813 (-0.4%) from 2018

Expenses

Up

$240,848

Up $162,895 (+209%) from 2018

Net Income

Down

-$53,934

Down $163,708 (-149%) from 2018

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.0M$500K$0-$500K-$1.0MAssets 2010: $125,315Liabilities 2010: $771,409Net Assets 2010: -$646,0942010Assets 2011: $125,083Liabilities 2011: $789,881Net Assets 2011: -$664,7982011Assets 2016: $29,957Liabilities 2016: $02016Assets 2017: $73,456Liabilities 2017: $02017Assets 2018: $186,586Liabilities 2018: $3,3562018Assets 2022: $26,819Liabilities 2022: $20,060Net Assets 2022: $6,7592022Assets 2023: $52,165Liabilities 2023: $12,258Net Assets 2023: $39,9072023Assets 2024: $61,006Liabilities 2024: $33,760Net Assets 2024: $27,2462024

Highlighted filing

2022

Assets$26,819
Liabilities$20,060
Net Assets$6,759
Open 2022 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2010: $512,988Expenses 2010: $589,708Net Income 2010: -$76,7202010Revenue 2011: $537,916Expenses 2011: $556,620Net Income 2011: -$18,7042011Revenue 2016: $42,731Expenses 2016: $29,102Net Income 2016: $13,6292016Revenue 2017: $136,082Expenses 2017: $76,282Net Income 2017: $59,8002017Revenue 2018: $187,727Expenses 2018: $77,953Net Income 2018: $109,7742018Revenue 2022: $186,914Expenses 2022: $240,848Net Income 2022: -$53,9342022Revenue 2023: $307,366Expenses 2023: $261,732Net Income 2023: $45,6342023Revenue 2024: $237,412Expenses 2024: $250,073Net Income 2024: -$12,6612024

Highlighted filing

2022

Revenue$186,914
Expenses$240,848
Net Income-$53,934
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Dec 21, 2022
Return Version
2021v4.0
Gross Receipts
$186,914
Mission and Program Overview

Mission

Partnering of families and children to create a loving and stable environment that allows children to flourish into healthy adults and become productive individuals in our society

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$61,262$26,819▼ $34,443
Accounts Receivable$-377--
Total Assets$60,885$26,819▼ $34,066
Liabilities
Other Liabilities-$10,608-
Accounts Payable and Accrued Expenses$33$9,452▲ $9,419
Total Liabilities$33$20,060▲ $20,027
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$60,852$6,759▼ $54,093
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$60,852$6,759▼ $54,093
Total Liabilities and Net Assets / Fund Balance$60,885$26,819▼ $34,066
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Mary Lee KingExecutive DirectorFT$48,000$48,000
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$186,914
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-53,934
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$137,292
Other Expenses$103,556
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$114,330--$114,330
Occupancy$24,263--$24,263
Payroll Taxes$22,962--$22,962
Fees for Services Legal$19,432--$19,432
Information Technology$17,056--$17,056
Fees for Services Management$15,798--$15,798
Office Expenses$11,630--$11,630
All Other Expenses$8,765--$8,765
Fees for Services Accounting$3,680--$3,680
Other Expenses$1,611$0$0$1,611
Insurance$693--$693
Interest$458--$458
Advertising$170--$170
Total Functional Expenses$240,848$0$0$240,848
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Donations toward general expense$10,000
Application Fees Paid ahead of invoice$608
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“This 990 was prepared by an independently contracted accounting technician who provides accounting support to the organization and regularly maintains the organization's books.”

Form 990, Part VI, Section C, Line 19

“Upon request”

Filing and Contact Details

Filer

Filer Name
Frank Adoption Center
EIN
58-2153959
Phone
9192639749
Address
2000 South Main St, Wake Forest, NC 27587

Signing Officer

Name
Mary Lee King
Title
Executive Director
Phone
3366019704
Signed
2022-12-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mary Lee King
Formed
1995
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
4
Volunteers
0

Preparer

Firm
SPV Accountants Inc
Address
4514 Highgate Dr, Durham, NC 27713
Preparer
Christopher Spargo
Phone
7046895902
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

“This year the organization became licensed by NCDHHS to license foster families in North Carolina.”

Raw XML Appendix341 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0This year the organization became licensed by NCDHHS to license foster families in North Carolina.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1This 990 was prepared by an independently contracted accounting technician who provides accounting support to the organization and regularly maintains the organization's books.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Upon request
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 2
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0Mary Lee King
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum03366019704
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-12-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FRANK ADOPTION CENTER
ReturnHeader/Filer/BusinessNameControlTxt0FRAN
ReturnHeader/Filer/EIN0582153959
ReturnHeader/Filer/PhoneNum09192639749
ReturnHeader/Filer/USAddress/AddressLine1Txt02000 South Main St
ReturnHeader/Filer/USAddress/CityNm0Wake Forest
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027587
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0881713855
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SPV Accountants Inc
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04514 Highgate Dr
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Durham
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027713
ReturnHeader/PreparerPersonGrp/PhoneNum07046895902
ReturnHeader/PreparerPersonGrp/PreparationDt02022-12-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Christopher Spargo
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02022-12-21T15:08:08-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$26,819
Liabilities
$20,060
Net assets
$6,759
Revenue
$186,914
Expenses
$240,848
Net income
-$53,934
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.61$0.34$0.27$2.37$2.50$0.13
2023Summary only. Only limited summary data is available for this year.$0.52$0.12$0.40$3.07$2.62$0.46
2022Detailed filing. Detailed filing data is available for this year.$0.27$0.20$0.07$1.87$2.41$0.54
2018Summary only. Only limited summary data is available for this year.$1.87$0.03$1.88$0.78$1.10
2017Summary only. Only limited summary data is available for this year.$0.73$0.00$1.36$0.76$0.60
2016Summary only. Only limited summary data is available for this year.$0.30$0.00$0.43$0.29$0.14
2011Summary only. Only limited summary data is available for this year.$1.25$7.90$6.65$5.38$5.57$0.19
2010Summary only. Only limited summary data is available for this year.$1.25$7.71$6.46$5.13$5.90$0.77